Photoshop text effects

Elegant
This is what the ending result will look like.

1. Open up photoshop and create a new document.
2. Choose your favorite font, for the purpose of this example, I suggest you choose Georgia, set it on italic, sharp, and 30 pixels.
3. Apply the follow settings for Stroke, Drop shadow and Gradient overlay
4. And there you have it! You may need to adjust some settings depending on the size and style of your font.

Glassy

1. Open up photoshop and create a new document.
2. Choose your favorite font, for the purpose of this example, I suggest you choose Georgia, sharp, and 48 pixels.
3. Apply the follow settings for the Drop shadow.
4. Select the elliptical marquee tool, which is hidden under the rectangular maraquee too. To use, just hold your mouse down until a little pop up menu appears. Create a half oval along the top of your text. Example.
5. Create a new layer, Shift+Ctrl+N, and fill the oval with a white or light color. Make sure this layer is on top of the actual text layer.
6. Select the outline of your text by going to the layers pallet and clicking on your text layer while holding down the Ctrl key.
   
7. While your text is still selected, go to Select » Inverse. You can also use the key command Shift+Ctrl+I. Example.
8. Make sure you are on the top layer, this should be the layer where you used the elliptical marquee tool to make the oval, and use the key command Ctrl+X.
9. Set the opacity of your top layer to 40%, you may have to change the percentage according to your color.